The Top Regular Savers Discussion Thread

allegro120

dibbles212 said:

Nationwide 

My Flex regular saver matured today and it changed to an instant saver. When I try to apply for another one it says I can't as I already have one, which I don't. Do I have to wait until tomorrow to apply?

Nationwide
Yes, you should be able to open new RS tomorrow.

PloughmansLunch

s71hj said:

My Halifax regular saver has matured today and I've opened another. Given that I fully paid into the matured one already this month am I also able to fund the new one or do I have to wait until next month. 

There is a quirk with Halifax in that the regular saver rolls over automatically and IIRC transfers the interest to an everyday saver that was also opened alongside the regular saver, so can only ever take one payment a month unless the everyday saver is closed beforehand. That way the maturing regular saver mutates into an everyday saver.

A brand-new regular saver can then be opened and deposited in the same month (and you'll have a new additional everyday saver created too that you might want to close).

mhoc

Kim_13 said:

dcs34 said:

Skipton BS
So for those with the Regular Issue 1 and Member Regular Issue 4, which are due to mature in July, it's not worth closing the existing accounts to renew as you'll only be able to open one of the new accounts (whereas the older issues had a 'loophole' where both account types could be held simultaneously provided they were opened in the right order).

Correct.

If you only had a Regular 1 and are eligible for the Member Regular Issue 5, it's a harder call - £50p/m higher deposit limit and 0.5% increase in rate, but where would the remainder of the funds go? If they will fund higher paying regulars, then great.

If the Regular 1 was a person's only account and is closed to get the Member Issue 5, I do wonder whether Skipton will eventually downgrade it as technically their membership becomes 11/11/25 or later onwards (from an Easy Access to empty the Regular into, with membership earlier than 10/11/25 ending with Regular Issue 1.)

I did the switch over yesterday - closed Skipton regular saver I and opened the members bonus all very neat. I only had £1000 in it so thats now sitting in a Zopa saver at 4.75% and it will  then fund other regular savers at the start of December. The main advantage for me is that I now have a regular saver maturing in November 2026 so this has helped with forward planning  

s71hj

PloughmansLunch said:

s71hj said:

My Halifax regular saver has matured today and I've opened another. Given that I fully paid into the matured one already this month am I also able to fund the new one or do I have to wait until next month. 

There is a quirk with Halifax in that the regular saver rolls over automatically and IIRC transfers the interest to an everyday saver that was also opened alongside the regular saver, so can only ever take one payment a month unless the everyday saver is closed beforehand. That way the maturing regular saver mutates into an everyday saver.

A brand-new regular saver can then be opened and deposited in the same month (and you'll have a new additional everyday saver created too that you might want to close).

So I withdrew all the money from the everyday saver and put £250 in the newly opened RS. So in standing order terms can I set up 12 from 1st December or am I limited to 11?

Kim_13

s71hj said:

PloughmansLunch said:

s71hj said:

My Halifax regular saver has matured today and I've opened another. Given that I fully paid into the matured one already this month am I also able to fund the new one or do I have to wait until next month. 

There is a quirk with Halifax in that the regular saver rolls over automatically and IIRC transfers the interest to an everyday saver that was also opened alongside the regular saver, so can only ever take one payment a month unless the everyday saver is closed beforehand. That way the maturing regular saver mutates into an everyday saver.

A brand-new regular saver can then be opened and deposited in the same month (and you'll have a new additional everyday saver created too that you might want to close).

So I withdrew all the money from the everyday saver and put £250 in the newly opened RS. So in standing order terms can I set up 12 from 1st December or am I limited to 11?

12, but unless you have also closed the everyday saver the RS autorenews in 12 months and you'd have to wait until December 2026 to pay into that one.

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Chaykin

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

s71hj

Kim_13 said:

s71hj said:

PloughmansLunch said:

s71hj said:

My Halifax regular saver has matured today and I've opened another. Given that I fully paid into the matured one already this month am I also able to fund the new one or do I have to wait until next month. 

There is a quirk with Halifax in that the regular saver rolls over automatically and IIRC transfers the interest to an everyday saver that was also opened alongside the regular saver, so can only ever take one payment a month unless the everyday saver is closed beforehand. That way the maturing regular saver mutates into an everyday saver.

A brand-new regular saver can then be opened and deposited in the same month (and you'll have a new additional everyday saver created too that you might want to close).

So I withdrew all the money from the everyday saver and put £250 in the newly opened RS. So in standing order terms can I set up 12 from 1st December or am I limited to 11?

12, but unless you have also closed the everyday saver the RS autorenews in 12 months and you'd have to wait until December 2026 to pay into that one.

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

I've had a lot of accounts maturing in the last 2 days but from memory, what happened was that the RS turned into an everyday and a "NEW" RS appeared (albeit one that had all last years transactions so I guess NOT actually new) with 0 balance. I put £250 in which was accepted though I might add I hadn't made a November payment into the "old" one. So I guess if I set up 12 payments not 11, come next year's rollover I will have an issue (obviously a very first world problem type of "issue" ! ) of not being able to make a November 2026 payment in? 

Kim_13

s71hj said:

Kim_13 said:

s71hj said:

PloughmansLunch said:

s71hj said:

My Halifax regular saver has matured today and I've opened another. Given that I fully paid into the matured one already this month am I also able to fund the new one or do I have to wait until next month. 

There is a quirk with Halifax in that the regular saver rolls over automatically and IIRC transfers the interest to an everyday saver that was also opened alongside the regular saver, so can only ever take one payment a month unless the everyday saver is closed beforehand. That way the maturing regular saver mutates into an everyday saver.

A brand-new regular saver can then be opened and deposited in the same month (and you'll have a new additional everyday saver created too that you might want to close).

So I withdrew all the money from the everyday saver and put £250 in the newly opened RS. So in standing order terms can I set up 12 from 1st December or am I limited to 11?

12, but unless you have also closed the everyday saver the RS autorenews in 12 months and you'd have to wait until December 2026 to pay into that one.

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

I've had a lot of accounts maturing in the last 2 days but from memory, what happened was that the RS turned into an everyday and a "NEW" RS appeared (albeit one that had all last years transactions so I guess NOT actually new) with 0 balance. I put £250 in which was accepted though I might add I hadn't made a November payment into the "old" one. So I guess if I set up 12 payments not 11, come next year's rollover I will have an issue (obviously a very first world problem type of "issue" ! ) of not being able to make a November 2026 payment in? 

Set up the 12 payments, then close any Everydays you have. Come maturity, with no Everyday to empty the maturing RS into, the RS will become an Everyday and then you are free to open a new RS (which has a new account number and will therefore accept £250, even though you will have already paid into the old RS with the different number.)

Section62

Chaykin said:

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

Only one.  The second one would be a new one opened after the old one matures.

Kim_13

Chaykin said:

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

You can only have one, but if you close the Everyday Saver and re-open a new RS manually when it matures, the maturing and new RS can both have £250 paid into in the same month. If your Regular Saver is autorenewed, you are limited to £250 between the two.